“The Medical Device Excise Tax Aims To Raise $20 Billion Over Ten Years When It Goes Into Effect In 2013. It Will Apply To A Wide Range Of Medical Device Products--From Bed Pans To Stents Used For Propping Open Clogged Arteries.” (“Excise Tax Has Local Medical Device Makers Concerned,” Minnesota Public Radio, 3/29/10)
“Minnesota Is Teeming With Companies That Make Those Products. Med Tech Giants Medtronic, Boston Scientific, St. Jude Medical, And Many Smaller Firms Have Operations In The State.” (“Excise Tax Has Local Medical Device Makers Concerned,” Minnesota Public Radio, 3/29/10)
“’Minnesota Is Going To Take About 25 Percent Of The Hit On The Total Tax Levied Against The Medical Technology Industry,’ Said Don Gerhardt, The Chief Executive Of Lifescience Alley, A Minnesota-Based Trade Group Representing Several Industries, Including Medical Device Makers.” (“Excise Tax Has Local Medical Device Makers Concerned,” Minnesota Public Radio, 3/29/10)
“‘I Think The Real Impact Is Going To Be On The Mid-Sized And Smaller Companies, Where Profit Margins Are A Lot More Narrow, and in some cases are so narrow that the effect of the tax will push a small minority of the companies from black to red,’ Perriello said.” (“Excise Tax Has Local Medical Device Makers Concerned,” Minnesota Public Radio, 3/29/10)
“In Massachusetts, One Of The Industries Touted As A Job Creator For The Future Has Been The Manufacturing Of Medical Devices.” (“Government, Industry, Bracing For Impact Of Health Reform,” The Eagle Tribune [Lawrence, MA], 3/28/10)
“But The Health Care Reform Law Contains A Hefty New Tax On These Products, Putting The Long-Term Prospects For Some Of These Companies In Doubt.” (“Government, Industry, Bracing For Impact Of Health Reform,” The Eagle Tribune [Lawrence, MA], 3/28/10)
“The 225 Medical Device Manufacturers In Massachusetts Employ 21,000 People And Generate $6 Billion In Annual Sales. Their products include such items as pacemakers, defibrillators and the tools for minimally invasive joint surgery produced by Smith & Nephew Endoscopy of Andover.” (“Government, Industry, Bracing For Impact Of Health Reform,” The Eagle Tribune [Lawrence, MA], 3/28/10)
“That The Tax Is On Sales, Not Profits, Is Significant. The Tax Will Drive Marginally Profitable Companies Into The Red And Extend Losses For Those Already Losing Money.” (“Government, Industry, Bracing For Impact Of Health Reform,” The Eagle Tribune [Lawrence, MA], 3/28/10)
INDIANAPOLIS STAR: “The Legislation, In Fact, Is Likely To Accelerate Price Increases In Some Areas Of Health Care. For Instance, A Tax Increase On Medical Device Companies Is Sure To Be Passed On To Consumers And Their Insurers.” (Editorial, “Vote Is Done But Debate Continues,” Indianapolis Star, 3/23/10)
Tags: health care, increased costs, medical devices, Indiana, MINNESOTA
To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!
0 comments:
Post a Comment